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Naira Strengthens to N1,620/$ in Parallel Market

Nathaniel Irobi by Nathaniel Irobi
May 21, 2025
in Business
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Dollar To Naira Exchange Rate For Today 01 May 2025

Naira Strengthens to N1,620/$ in Parallel Market

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Yesterday saw the naira appreciate to N1,620 per dollar within the parallel market, a rise from N1,625 per dollar recorded on Monday. In contrast, the naira depreciated in the Nigerian Foreign Exchange Market (NFEM), settling at N1,598.69 per dollar, down from N1,597 per dollar the day before, marking a N1.69 depreciation.

This shift has led to a reduction in the disparity between the parallel market and NFEM rates, which has contracted from N28 per dollar on Monday to N21.31 per dollar.

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Tags: Naira
Nathaniel Irobi

Nathaniel Irobi

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